Mojang's best selling open world building game Minecraft is about to generate more revenue for the company when new versions are released this August. Mojang has confirmed the Xbox One and PlayStation 4 versions of Minecraft will launch in early August.

The Xbox One and PS4 versions of the game will allow players to import saves onto the new platform, though that compatibility does not go backwards (you can't import Xbox One saves to the Xbox 360 version of the game, for example). Those who have bought the game on either Xbox 360 or PS3 are eligible to buy an "upgrade" for $4.99. If you have never bought Minecraft on the consoles, you can pick it up for $19.99. Other new features include "significantly bigger worlds and a greater draw distances." Cross-play between older console versions and newer console versions will not be possible.

You can read more about the new console versions of the game below - from Mojang:

Minecraft Xbox One Edition:

Minecraft: Xbox One Edition will be released on Xbox Live Marketplace in August. It brings significantly bigger worlds and a greater draw distance than Xbox 360 Edition.
It will include all the features from the most recent Xbox 360 title update.
Minecraft: Xbox One Edition will cost $19.99.
If you've bought Minecraft: Xbox 360 Edition from Xbox Live Marketplace, or played online with the disc version, you will be able to upgrade to Xbox One Edition for $4.99.
You will be able to upgrade for a minimum of a year after the release date.
Players with Minecraft: Xbox 360 Edition saves will be able to import their worlds to Xbox One. Unfortunately, you won't be able to transfer saves from Xbox One to Xbox 360. We can make worlds bigger without too much stress, but shrinking them causes all kinds of problems.
Cross platform play will not be possible between Xbox 360 and Xbox One.
Many, but not all, of the DLC skins and texture packs you've purchased for Xbox 360 Edition will be available for use in Xbox One Edition. We'd like to say all your DLC would transfer, but some of the items are trapped in licensing deals that are too boring to get into here. We'll have more on this soon.

Minecraft PS4 Edition:

Minecraft: Playstation 4 Edition will be released on the PSN in August. It brings significantly bigger worlds and a greater draw distance than Playstation 3 + Vita Edition.
It will include all the features from the most recent Playstation 3 version.
Minecraft: Playstation 4 Edition will cost $19.99.
If you've Playstation 3 Edition from the Playstation Network you will be able to upgrade for $4.99.
You will be able to upgrade for a minimum of a year after the release date.
We are working closely with Sony Computer Entertainment to look into ways to enable upgrade from the Blu-ray disc version of Minecraft:
Playstation 3 Edition to Minecraft: Playstation 4 Edition. We'll have more info on this closer to release.
Players with Playstation 3 Edition or Playstation 3 + Vita Edition saves will be able to import their worlds to Playstation 4. Unfortunately, you won't be able to transfer your saves from Playstation 4 to Playstation 3/Vita. There are technical reasons for this; we can make worlds bigger without too much stress, but shrinking them causes all kinds of problems.
Cross-platform play will not be possible between Playstation 3 + Vita Edition and Playstation 4 Edition.
Many, but not all, of the DLC skins and texture packs you've purchased for Playstation 3 Edition will be available for use in Playstation 4 Edition.
We'd like to say all your DLC would transfer but some of the items are trapped in licensing deals that are too boring to get into here. We'll have more on this soon.

Minecraft PS3 + PS Vita Edition:

Minecraft: Playstation 3 + Vita Edition will be available on the PSN in August.
It will include all the features from the most recent Playstation 3 version, including online play, on Vita.
If you've bought Minecraft: Playstation 3 Edition from PSN you'll be able to upgrade for free.
We are working closely with Sony Computer Entertainment to look into ways to enable upgrade from the Blu-ray disc version of Minecraft: Playstation 3 Edition to Minecraft: Playstation 3 and Vita. We'll have more info on this closer to release.
This means everyone who has bought Minecraft: Playstation 3 Edition from PSN will get it on Vita for free. Those fluent in Sony-speak might refer to the deal as "Cross-buy." Minecraft: Playstation 3 + Vita Edition will cost $19.99.
It doesn't matter if you buy for PS3 or Vita first, you own the game for both platforms.
Saves are transferrable between the Playstation 3 and Vita versions of Minecraft. You will be able to craft at home on your Playstation 3, then continue on the bus/toilet with your Playstation Vita.
All of the DLC you've purchased for Minecraft: Playstation 3 Edition will work on Playstation 3 + Vita Edition.